ROME, Dec. 2 (Xinhua) -- Italy's gross domestic product (GDP) showed no growth between the second and third quarters of the year, according to government data released Monday.
ISTAT, Italy's National Statistics Institute, said the national economy failed to show sequential economic growth in the July-to-September period compared to the April-to-June period. The government estimates the economic growth for 2024 at 1.0 percent, while the economy grew merely 0.5 percent in the first ninth months of this year, ISTAT said.
However, compared to the third quarter last year, the data looked stronger, with an expansion of 0.4 percent.
"The zero growth of Italy's GDP underlies contrasting trends of the principal components of demand," ISTAT said in a statement. "Domestically, household consumption provided a positive contribution of 0.8 percentage points and investments a negative contribution of 0.3 percentage points." Meanwhile, foreign demand contracted 0.7 percent in the third quarter, ISTAT added.
